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[hirokazu]

Lol this guy thinks your average mid-20 to 30 year old has the capability to save $35k in possibly two years and definitely 4 years

edit for clarification: saving $8.5k to $17k per year is a pipedream for majority of millenials unless you literally live in squallor and survive off of seeds you grew yourself

I'm a millenial and uh, I don't live in squallor or survive off of seeds. I know there are some people who have it tough but I think for a lot of people (and again I'm not talking about everyone here, of course, nor am I talking about affordability of housing), they don't make the decision to account for decent savings or living within their means. I think that is the point that multimillionaire is trying to make about the smashed avo.

I'm gonna get wrecked for this opinion. Come at me bro.

 

[NandoGip]

I'm a millenial and uh, I don't live in squallor or survive off of seeds. I know there are some people who have it tough but I think for a lot of people (and again I'm not talking about everyone here, of course, nor am I talking about affordability of housing), they don't make the decision to account for decent savings or living within their means. I think that is the point that multimillionaire is trying to make about the smashed avo.

I'm gonna get wrecked for this opinion. Come at me bro.

Do you think everyone has the privilege of having a good job? There are people who busted ass and got the short end of the stick. Just because youre an exception doesnt mean everyone else is a dumbass that wastes their entire income on pointless shit

 

[Elaugaufein]

I'm a millenial and uh, I don't live in squallor or survive off of seeds. I know there are some people who have it tough but I think for a lot of people (and again I'm not talking about everyone here, of course, nor am I talking about affordability of housing), they don't make the decision to account for decent savings or living within their means. I think that is the point that multimillionaire is trying to make about the smashed avo.

I'm gonna get wrecked for this opinion. Come at me bro.

You are unfortunately wrong though. That's ~25% of median household gross income over 2 years (and a median household has more than 1 earner). The millennial median will be substantially below that as millennials are between mid to late 20s and late 30s. While it's possible to save 25% of gross income it's a long way from easy and that becomes increasingly true the lower the gross income is because non-discretionary spending is relatively inelastic (it's actually impossible in the lower brackets).

 

[Badabing]

Lol this guy thinks your average mid-20 to 30 year old has the capability to save $35k in possibly two years and definitely 4 years

edit for clarification: saving $8.5k to $17k per year is a pipedream for majority of millenials unless you literally live in squallor and survive off of seeds you grew yourself

Or you have dual income in a stable relationship? Or you live at home with your parents even? I know two of people who saved 80K in both scenarios ( well three actually)

The power of family and stability...

 

[Elaugaufein]

Or you have dual income in a stable relationship? Or you live at home with your parents even? I know plenty of people who saved 80K in both scenarios.

The power of family and stability...

A dual income in a relationship is still unlikely at median incomes (you're cheating with stability because that's measurable only in hindsight and (unsurprisingly) correlates positively with income).

If you're making a substantial saving living with your parents then chances are also excellent your family is better off than average too (because they can afford to subsidize you and are located well enough for you to hold down a good job).

 

[hirokazu]

Do you think everyone has the privilege of having a good job? There are people who busted ass and got the short end of the stick. Just because youre an exception doesnt mean everyone else is a dumbass that wastes their entire income on pointless shit

We're going on averages here. We were talking about median house prices and now I'm going on median wages. I explicitly said there are people who are struggling, but I stand by my statement that $35,000 in 2-4 years is achievable for millenials.

A quick Google search shows median gross wages for millenials is $1,200/week. Less ballpark 30% tax is $840/week. Lets say rent for a person sharing a two bedder is $300 a week, $50 for utilities, $200 for food, general expenses and going out. That still leaves $290/week in savings.

Over four years, that's $60,320, or that $35,000 saved plus an $25,000 to spend on clothes, electronics, household items, holidays or whathaveyou.

EDIT: Keep in mind we're talking about Australian wages and Sydney suburban costs here. Obviously this doesn't work for the US or other countries. Don't lampoon me on that.

 

[Elaugaufein]

We're going on averages here. We were talking about median house prices and now I'm going on median wages. I explicitly said there are people who are struggling, but I stand by my statement that $35,000 in 2-4 years is achievable for millenials.

A quick Google search shows median gross wages for millenials is $1,200/week. Less ballpark 30% tax is $840/week. Lets say rent for a person sharing a two bedder is $300 a week, $50 for utilities, $200 for food and going out. That still leaves $290/week in savings.

Over four years, that's $60,320, or that $35,000 saved plus an $25,000 to spend on clothes, electronics, household or holidays.

EDIT: Keep in mind we're talking about Australian wages and costs here. Obviously this doesn't work for the US. Don't lampoon me on that.

Yes, I'll concede 4 years. That brings it down to 12.5% per year which is still higher than average savings per year but not so much as to be silly like 2 years is.

 

[Elegant Weapon]

I haven't read this thread but avocado is a metaphor for weed, right?

 

[Elaugaufein]

I haven't read this thread but avocado is a metaphor for weed, right?

Nope. Smashed Avacado on Toast is kind of a signature hipster breakfast in Australia. It carries similar implications to Soy Lattes or Quinoa or Kale.

As noted before it's not just Avacado on toast, it's generally got feta cheese , tomato and olive oil and the bread is usually sourdough. Its still ridiculously overpriced though.

 

[Snowybreak]

I haven't read this thread but avocado is a metaphor for weed, right?

No, he literally means avocados.

If it was weed, it would be more angry than smug.

Nope. Smashed Avacado on Toast is kind of a signature hipster breakfast in Australia. It carries similar implications to Soy Lattes or Quinoa or Kale.

As noted before it's not just Avacado on toast, it's generally got feta cheese , tomato and olive oil and the bread is usually sourdough. Its still ridiculously overpriced though.

Like, I could make that super cheap. Some thin slices of tomato on top of pureed avocado, on top of a good slab of sourdough (maybe even homemade garlic sourdough), with feta on top, thown in the oven to get the feta a bit softer.

It'd cost me maybe 35¢ a slice.

 

[hirokazu]

No, he literally means avocados.

If it was weed, it would be more angry than smug.

Like, I could make that super cheap. Some thin slices of tomato on top of pureed avocado, on top of a good slab of sourdough (maybe even homemade garlic sourdough), with feta on top, thown in the oven to get the feta a bit softer.

It'd cost me maybe 35¢ a slice.

You're not being served by a bearded hipster and dining on a winebarrel table with an $8 single origin coffee in a converted factory.

 

[Elaugaufein]

You're not being served by a bearded hipster and dining on a winebarrel table with an $8 single origin coffee in a converted factory.

Is it wrong that I want to try this now ? My surrounding hipster cafes are clearly insufficiently hipster.

 

[.JayZii]

I stopped buying avocado toast after this thread was made, and I've already saved several thousand dollars.

 

[Snowybreak]

You're not being served by a bearded hipster and dining on a winebarrel table with an $8 single origin coffee in a converted factory.

Well of course not! I learned how to cook!

 

[Clockwork5]

Do you think everyone has the privilege of having a good job? There are people who busted ass and got the short end of the stick. Just because youre an exception doesnt mean everyone else is a dumbass that wastes their entire income on pointless shit

The fact that the poster you replied to doesn't live in squalor makes them the norm, not the exception. As does the fact they aren't saving for their future.

 

[hirokazu]

Well of course not! I learned how to cook!

Indeed!

Seriously, cooking for yourself saves a not insignificant amount of money!

 

[Akainu]

I don't get it I've had avocado it taste like nothing.

 

[Magni]

No, he literally means avocados.

If it was weed, it would be more angry than smug.



Like, I could make that super cheap. Some thin slices of tomato on top of pureed avocado, on top of a good slab of sourdough (maybe even homemade garlic sourdough), with feta on top, thown in the oven to get the feta a bit softer.

It'd cost me maybe 35¢ a slice.

The guy is an asshole, but people seriously need to brush up on their reading comprehension skills.

He's not talking about people who cook at home (and live where avocados are cheap). He's talking about people who splurge close to $20 per toast.

The issue isn't avocados. The issue is spending like money isn't an issue when it is.

 

[Abstrusity]

I'm still confused on what avocado toast is.

Is it just avocado on toast? I don't think I've ever /had/ avocado, actually.

What's it taste like? Is it edible, or is it just one of those hipster things that tastes awful like pineapple on pizza?

 

[Ferrio]

I'm still confused on what avocado toast is.

Is it just avocado on toast? I don't think I've ever /had/ avocado, actually.

What's it taste like? Is it edible, or is it just one of those hipster things that tastes awful like pineapple on pizza?

Never had Guacamole? It's primary ingredient is avocado. Very rich, almost butter consistency.

 

[hirokazu]

I'm still confused on what avocado toast is.

Is it just avocado on toast? I don't think I've ever /had/ avocado, actually.

What's it taste like? Is it edible, or is it just one of those hipster things that tastes awful like pineapple on pizza?

 

[Abstrusity]

Never had Guacamole? It's primary ingredient is avocado. Very rich, almost butter consistency.

Nope. I don't routinely put things that /look/ or smell unappetizing in my mouth, not to bash avocado. The bright green makes me think of some playdoh off-shoot from the 90s. Plus, when you're on a very strict budget, you can only splurge on food every once in a while, so it's literally never come up.

Okay, I see. Not that I ever thought the argument was sound, but even then, 20 bucks a day every single day, for 5 years, isn't enough money to put a proper down on a house. Sure, you'll be closer, but using the most liberal estimate (above, claiming 20 per toast, 365 days a year + 2 for leap years, for 5 years) is more than most people make a year anyway.

 

[hirokazu]

Okay, I see. Not that I ever thought the argument was sound, but even then, 20 bucks a day every single day, for 5 years, isn't enough money to put a proper down on a house. Sure, you'll be closer, but using the most liberal estimate (above, claiming 20 per toast, 365 days a year + 2 for leap years, for 5 years) is more than most people make a year anyway.

Yeah, the statement has two facets, one that I can in principal agree with, and one I cannot.

The first is that many people (and again, I have to put a caveat that this means the average millenial in Australia who can live relatively comfortably yet don't have much in the bank) choose to live in the now and don't seem to have long-term savings as a goal. If they budgeted better and account for money that ought to be set aside as savings, they could save a hefty amount. A small amount saved here and there do add up.

The second is where the problem is, the guy implies wild spending is a major reason that young people can't afford to buy a home. There's also an implication his success in turning $35,000 into a fortune of $500m+ from property in 15 years is supposed to prove that. Nope. His fortune is the result of his business acumen, it doesn't say anything about the average millenial buying a home. Not everyone is going to find success in business. Even 15 years ago, the property market in Australia was very different than it is now. Even with his suggestion of being a bit more frugal, the market here is spiralling out of control and out of reach of millenials and the latter generations.

 

[NewGame]

Classic

I also like these videos

https://youtu.be/yzOTObLi3gc


and


https://www.youtube.com/watch?v=jxoEPBVY8cc

 

[JustSomeone]

Who the hell likes Avocado?

 

[Jintor]

Who the hell likes Avocado?

i will come across this table and fight you sir

 

[Theonik]

Guacamole is the only acceptable use of Avocado.

 

[Megalosaro]

My parents just sold their house in North long beach (ghetto) for 420k.

No thanks. I don't want to move out to Menefe or some shit in order to be able to afford a house.

 

[SpartanN92]

 

[BumRush]

I mean, the avocado example is oddly specific, but I get what he is saying. Moreso on the coffee bit.

 

[LinkAndEpona]

I'm a millenial and uh, I don't live in squallor or survive off of seeds. I know there are some people who have it tough but I think for a lot of people (and again I'm not talking about everyone here, of course, nor am I talking about affordability of housing), they don't make the decision to account for decent savings or living within their means. I think that is the point that multimillionaire is trying to make about the smashed avo.

I'm gonna get wrecked for this opinion. Come at me bro.

No, your post is correct and is highly agreeable and relatable.

Plenty of users for some reason are taking the avocado example a little too literally and of course the multimillionaire is talking about wasteful spending and not saving enough.

 

[Dirca]

That looks disgusting, but thankfully, I'm not a millennial.

 

[Elegant Weapon]

Nope. Smashed Avacado on Toast is kind of a signature hipster breakfast in Australia. It carries similar implications to Soy Lattes or Quinoa or Kale.

As noted before it's not just Avacado on toast, it's generally got feta cheese , tomato and olive oil and the bread is usually sourdough. Its still ridiculously overpriced though.

Now I want to eat Avocado toast when I'm high

 

[jmdajr]

I had Avacado today for lunch. $1.78 at the grocery store.

It was good.

My kid was watching Teen Titans GO and there was episode dedicated to Avocados.

AVAGODO!

 

[xevis]

Long commutes are the single factor with the most direct link to lowered life satisfaction and happiness. Almost across the board, people with longer commutes are less happy than people with shorter ones. It's a pretty reasonable choice to stay as a renter rather than lock yourself in to a lifetime of unhappiness buying a far-off bedroom community house. (Also it's not as if there are cheap houses waiting for the picking in convenient commute spots from most cities.)

Commutes suck but they don't all have to involve driving. For distances <20km a bike is a reasonable option to a car. For longer distances it's possible to look for a place near a train station. A 45min (even 1 hour!) train commute for instance is much easier than an equivalent drive in traffic. You can relax, read a book etc.

EDIT: (I missed the below when reading replies)

Long car commutes are terrible though for multiple reasons.

I'm not sure about the situation in other countries but in the USA we have under-invested in light rail/commuter rail and metro systems that can allow people to live outside of the city and commute without having to sit in a car for hours. At least on a train you can read or get some work done. I took a commuter rail to high school and was able to do my homework on the train ride, something you could never do in a car.

This is a great point actually. Rail isn't an option everywhere. I visited Boston a few years ago and the Internet recommended me a hotel in Woburn. It's ~20km from the city but hardly out in the bush (at least by Australian standards). So anyway I didn't mind because there was train station nearby. Holy shit was I wrong: the place is connected to Boston by way of regional trains that run once every hour. I couldn't believe how awful it was.